Insurance can provide financial protection for barbers in case of unforeseen injuries, illness, or lawsuits. If you own a physical barbershop space, starting with a business owner’s policy is a cost-effective option as it includes important coverages such as general liability, commercial property, and business interruption. Shops with employees, retail products, or chemical services may require additional policies, and all barbers should consider standalone professional liability insurance as well.
To find the best coverage for your barber business, it’s important to compare quotes from different insurance companies. BW offers a platform where you can save up to 30% on business insurance by getting real-time quotes from 30+ insurers and instant access to your Certificate of Insurance (COI) through their partner, Coverdash.
When looking for insurance companies that cater to barbers, consider factors like the number of complaints policyholders make to state regulators, the financial strength of the companies, and the ease of getting a quote and buying a policy online. BW recommends comparing multiple quotes to find the best coverage at a good price.
Some insurance companies that offer tailored policies for barbers include The Hartford, which provides business owner’s policies and additional coverage options like workers’ compensation and equipment breakdown coverage. Ergo Next offers online shopping experience with barber-specific packages that include general and professional liability, commercial property, workers’ comp, and commercial auto coverage in three different levels. Nationwide is a good option for shop owners with lots of equipment as they offer equipment breakdown coverage in their business owner’s policy along with other essential coverages like product liability, workers’ comp, and data breach coverage.
Thimble acts as an insurance agent and can assist with finding the right insurance coverage for your barber business. Because it does not underwrite insurance policies, we do not provide a star rating for Thimble. You can purchase insurance from Thimble on an hourly, daily, weekly, monthly, or yearly basis, making it a potential option for side-hustle barbers. However, be aware of additional fees that vary by location and could exceed the premium on a short-term policy. Thimble offers barber’s liability policies that combine general and professional liability, as well as business owner’s policies that include property coverage. Since Thimble does not sell its own policies, you will need to work with a different company for claims.
If you are considering specialty insurance companies for barbers, make sure to compare costs and coverage against traditional insurers. Some options to consider include the National Association of Barbers (NAOB), the American Barber Association, and Elite Beauty Society. These companies offer various insurance products tailored to barbers, but we have not evaluated them or their underwriters.
Barbers need insurance to protect themselves financially from on-the-job injuries, lawsuits, and other risks. Common perils that insurance can help cover include injuries to clients, damage to property, and accidents in the shop. The types of insurance barbers may need include general liability insurance, professional liability insurance, workers’ compensation insurance, and commercial property insurance.
General liability insurance covers bodily injury and property damage claims from non-employees, as well as advertising injury. Professional liability insurance covers issues related to the barbering service itself. Workers’ compensation insurance pays for medical bills and lost wages for employees hurt on the job. Commercial property insurance covers the physical shop and its contents in the event of certain disasters.
Other types of barber insurance may include business interruption insurance, which helps cover expenses like rent and payroll if a covered event forces the shop to close temporarily. Business interruption off-premises insurance helps cover expenses when an off-premises event forces the business to close temporarily. Off-premises coverage is essential for retail businesses to bridge any gaps in insurance coverage.
Revisit Your Insurance Policies Regularly
It is important to review your insurance policies every time they come up for renewal to make sure you have adequate coverage. In addition, you should consider increasing your coverage if you make any significant changes to your business, such as adding chairs, hiring employees, opening a second location, or adding a mobile unit.
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